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Fume, Moderately Go

me tttorrmow ou not

A " ` . .Y '“f~ -Y ._ -__----._..;»_f; ._-_

I .tn<B~_l.‘is`{. »'$BttM.¥_..s.} CHARLOTTETOWN, PRINCE EDWARD ISLAND, CANADA, sA'1URDAv, FEBRUARY 17, Igoe.

it is

ER MONTH Y TW() CENTS

-a m in “Q ,En z S22 '°~s

_ f

CA ADIAN BA K F COMMERCE Acoutntis

Y PURCHASE THE ERCHANTS BANK OF P. E. .

The Head Offices and Branches to be Continued as Heretofore---No Change to be Made in the

Officers---Canadian Bank of Commerce has Canital of Ten Million Dollars, Rest of Four Million Five Hundred Thousand and Assets of One Hundred Millions---V. C. Brown of Bank

of Commerce comes to Charlottetown to Close the Beal---The First and Only official Announcement Given Exclusively to The Guardian---Some Account of The Canadian Bank of Commerce. interview with V. C. Brown---History of

table

Bank oi Commzrce ion as will appear from the following, circuit o_¢ the`Dominion and by so much _.__

oi l‘rlnce iitlward Island by the Canadian

’_)nt4u-io and Quebec _"_

B. Columbia and Yukon

'l’he acquisition oi’ the Merchants' Bank Northwest Provinces V 43 “

Maritime Provinces 15 United States 5 “

sansnwt 11 ~

liank oi Commerce will he a matter of Lond°n'E“ghmd 1 ..

t-ngtipring interest to our readers. Any

The distribution of the stock of the

ntnntentary feeling oi' regret lor theretire- Cmmdmn Bunk or Commerce “hm shows ntrnt. of the familiar and popular name oi that' “B shares have formed an ummmvu tho Merchants from the list ot nur ilnan- mvestmenb (ur capmluus thmughwtl the

vial institutions must yield to a sense oi irratiilcation that one ot the greater iinnks oi Canada and oi North America mot-ectis to its plaue and will herealter be vsittiiliaited in our midst, transacting i-ussiness upon n more extended scale at the old quarters. oi the Merchants' on tit-out George Street, under tho same well known and popular Manager and stnfl'.

\\'i'iI~2N IT WAS FOUNDED.

The Canadian Bank ol Commerce was rstubllshcti in Toronto in 1907 to meet the in-nn-ing commercial demands ot that rapitlty advancing ami progreeive city and ni the big Province ot Ontario. Its first dirt-etore were, Hon. William McMaster, _

i’rt-sident; II. S. I'Iowland,Viee President; - the enum Cnnudhm p“b“c_

.itunes Austin, William Elliott, T. Sutherland Stayner and John Taylor.

'Tho paid up capital oi the new institu-

tion at the close oi its ilret year was $lllti_tt'»ti and the Rest $40,000. In 1872 the capital had betln twice increased and aniounted to $11,748,034. in |871 the .»..,.u..t win ina.-than to so,ooo.ooo with A lit-serve Fund amounting to $1,000,000. in the mcdntime the (lore Ilnnk,

with headquarters in linnillton had been t\vt|uix'rti by the Canadian Batik of Com- ntorre, with aproportlnnato extension of the latto\"s business.

ITS POSITION TODAY-

’l`oday ths paid-up capital ol thc

t7anadian1Bank oi Commerce is $10,000,000 with a iteat Account of $1,500,000, “D0

the total assets as Shown by the latest ilovernment returns are over l\00.000»w0- itxhueinesa has extended eastward to tin- Atlantic, westward to the Pacino anti nurtliivard to f mg gold rogiona oi the Yukon. lthas grown with thegrowth ofthe Dominion and has proved a great factor-in the commercial and industrial developments! Canada. ‘

In hm "ie mwl numb" of hmmm” oi the Dominion, standing high in favor

ni the Canadian Bank oi Commerce was

til. Nowiu branohes number itll. 'i‘he` hm” bw" umb“.hed’md ‘mmmm me

extension has been made In part by llmaiasmatioa with other banks, Thus the Bank ol British Columbia joined its

fortunes with the Canadian in 1000 and the Hailiax Banking Company in M02.

Dominion and beyond its borders. Titus Ontario, the home Province of the Bank, is the residence M1320 shareholders while

1,100 reside in jother Provinces and 1052 in other countries.

t-Aer rn;-;stDna"rs.

The Canadian Bank ol Commerce ha

the ability, the progressive spirit and th

Presidents have included I-Ion. Wiilia MeMaster,1S6'l to 1886* Henry W. Darling

The Merchants Bank of P. E. Island.

d' Canada from easttowesi, andare planted of all the Canadian Provinces except our continued when and aitrr the formal

Hlstory of the Cana Ian in all the populous centres oi the Domiu-i own, Its coming here completes the transferis lnado.

been distinguished from its inception hy

8 purpose. Thlswillrequiro some week

dem famsmm of ns dlreummte Im In the meantime thercseems no reason Branches in Nova Scotia and New

pru »

adds to the appropriateness of its nam

th distinctively CanndianBauh W

having this important Bank establtshe `in our midst.

THE TRANSFER.

take over the business oi the Merchant

inspection by an oiiicer of the purehasin

will heartilyendorse the agreement whio

B

*doubt not that ns the years go by v_ C. Brown four people will more and more -heartily appreciate the advantage o

As above stated the Canadian Bank o

s

Commerce has agreed to purchase an

Bank. The amalgamation, Lhss been a we learn effected after afull and earefu

Bank and on terms mutually satisfactory. This agreement awaits the formal rati-

s iication oi t.he shareholders of the loea

Bank at the meeting to be called for that Halifax Banking Co., a few years ago

L has been made, and this done the form

m to doubt that the meeting of shareholders Brunswick, and our entry into Prince

a

2 Au inservice, ,want

f i..

A V. C. 1lrown,Inspecior of The Canadian

1iankoiCommercc, who has been in Charlottetown for the past [ew days was interviewed by a Guardian reporter.

¢ Asked,“What has influenced the Bank of d Commercetotake this stcpi" he replied: 'V “It is perfectly natural. It you look over S the list oi our Branches, you will find that 1 in the western portion of the

S countryjlrom Ontario to the Pacific

Coast the Bank has n Branch at almost every place oi import-

\ ance. The amalgamation with the

s. gave us an excellent representation of

h Edward Island rounds out our situation 1 in the Maritime Provinces admirably."

THE iiiANAi1EMEN'l'.

L

Esq, 1880 to 1890; and i-ion. George A. Co from 1800 to the present time. Taos

gentlemen, some of whom have passed away, enjoyed the fullest confidence o

The Bank has been not less iortunsto inite General Managers, Tile list inirlli des A. Greer, 1l~lti7»68; ii. J. Dallas, 1808-70; Iicary S. Strathy 1870-73; \’V. N. Anderson 1873-1880. ami Byron E. Walker from likiti down to the present time. Mr. Walker may be said to have grown up with tho Bank, having been engaged in its service since its incorporation in 1807 and risen by his ability and merit to his

present high position in the ilnanelal world. lla has been General Manager oi’ this great institution durirlil a proloaKefl periad,covering the time oi its greatest growth and prosperity. lic has an ahh- associatu in Assistant General Munailer Alexander Laird, who has also been ia the service oi the llank sinoo |807.

nnaxr rtsaxsviai. s1'|tr:Nu'rn.

Tho Guardian has no hesitation in nom- ntending the Canadian Bank oi Commerce to its readers and the businesscommunlty of Charlottetown and the Province as one oi the vary foremost financial institutions

in every Pmvlncs .where its branches

but possible security tn depositors. We beliavo they will aDPi'¢ciate the introduc- tion here oi so strong a bank, entirel! ll'-" yond tha possibility oi being shaken Dr disturbed by local utiverss conditions.

The Bank of Commerce is already y ts

IIRLNCIIIN IITABLIIHHII.

The branches relcnod to dot the mar ot

E transfer will at once be eifecled. Th

business oi the Bank will be carried on as baaks'are not as ready as the local in-

f usual in the meantime, and as eleewhe

stated, the :same oiileiul staff will b

O

e “It has been contended that western

are not desirous of lending their money here Z"

“That is sheer nonsense. Such

statements if traced to their source would be iound to amanate from interested parties. The success ol a Bank of national importance demands that it shall be ready at all times to meet the legitimate require- ments of the mercantile commun-

ity in any and every place where it does business. There is no reason in the world why we should view business oifered us in British Columbia, Manitoba or Ontario in the slightest degree differently from that offered in the Maritime Provinces. We would be quite as anxious to auoment the Bnnk's busi- ness and goodwill in Charlottetown, for example, as in Vancouver, Winnipeg, Toronto or anywhere else."

“Do you think the entry of the Bank of Commerce is at all calculated to be of beaeiit to the business interests of Prince Edward island?"

“Surely there can be no two questions on that pointl Anything which adds to the number of important sources from which the business community can look

re stitutione to assist the business interests e 'oi the Maritime Provinces, and that they

.for financial assistance must. Renerally

speaking, he advantageous to that com-

‘brsnehea occupying the business centres

il i MEWJHANTS BANK OF P. E. ISLAND.

` munity."

“Will there be nny change in the policy

pursued by the Merchants Bank with

regard to its borrowing customers

~ "Ablol11tely none whatever. We have had an opportunity to thoroughiyexamine

the business ot the Bank, and I can there- iore speak positively on this point. Prince Edward island is more than anything else an agricultural country: the <»ondi» tions here are very similar Lo those witl\` which we are very familiar in Ontario; and there is no kind of business which 'we view with greater favor than that which rests directly and indirectly on

the products of mixed farming. We shall always hc ready to satisfy the

legitimate requirements of our customers here as elsewin.-re."

“Will titers be any change in the

administration of the Bank here.”

“None. The affairs of the Merchants

Bank have been administered in a manner which reflects the greatest credit on the directorate and management, and wc are much pleased with the general charnutcr of the loans. In closing the agree- ment of’ purchase we made it one oi _ the conditions-indeed the condition oi paramount importance-that those who have had to do with the administration of the Merchants Bank’s affairs, should continue to direct the business ofthe Bank under the new condi- tions. The gentlemen in question have demonstrated in the most marked manner their fitness for this responsibility. The Executive at Toronto will seek to

keep themselves hilly ini'ormetl rcgarriing the llnnl-t`s business lni,ercsisltert~,lvut the ofileials at Charlottetown will be cnt.tn~t~ ed with the fullest measure of discretion.

History oi the Merchants

inland was cstablisiicd in the year lrflti

hy n numlrer of the leading pub

presidont.'e seat fell to the lot ot W. .\

lie spirited men of the City D and Province. The need Of -*U'~'l‘ ‘“‘ inosi.popnlaroliltiol-. tint t l- ni. t in inslitutiolt under local rontrul lnui been liavt-init~< .~t-|\‘it-tu lit- i... |»..n in ‘

apparent, and dr-sired for sonic time i'

t

late I`ien_i. iienrtv, nntlnr witnst- _t itnlni. tration the lltisiitess of ilu- lS.\nl. .itltztin -ui with nntttttty. ut. tttntti in tm.-...t_.». 1001, called back to the cliaii- nl' pit _ .ni critter, w. A. \\u-¢1<»-tt..- 1.»...l..| ,tn-».. dent ns allow sttitt-tl-:uni that .ttn.|t‘.-iv,

the list up to tin- pit ~ »n1 ima-, tin-_ \\'ot-th inn-nic- lt..-it .,-=tti...|.tt

in the position of |»rt-.~i-it-nt ~tnt».- tit.- deathoi Mr. iluartz. iiv \.iTi it-:tritium in the ineuinl»rnn:_v ni that ntltt .- nnl it vin-_

change is finally eoniplt-it-ii.

rut: inntzt r.-n<.

Amnngthe int-n who hail- |'t.»n. tins served on tht- tiirctetoi-:tio tt lin- Altr- cltaats Bunk of Prime livin at-i i\i.»:t-I maybe nientionc-ti snth ptt.t..in|-nt .nt zens nsfthc late (lat-n t`tmnt»lt_\' uint .- plienoutcnal rise iront rt l.nylt<»..<l visit was untronbleil ity \\i-atitlmi .tm '.,|n»l in _i fortune that uns pint-.-ti.i_\ in <\i~ i any other inthis pro\‘iin-t- niitin- -_ remeu_\i»cred by reader.-. of ’|'|n~ on .- i Chief Justice Suilivttn, tilt' !:tl\~ l.. l.,t t. L. C. Owen, the inte -1. 1". iIt»i»t»t<~\»|t. 'lit late llcnaiii i"i\\qul\1u'_»tnt, limi. I-1. tl Peters, Senator liiaotlonnitl, owl tin- i.t',t- Senntor I’rn\\‘.~w.

'i`l\c present liom-.i of iln-nt wr. t..n~i of President \V. /\. \\'rvi;~; \ it t- l‘tt- - dent I".ii. lienrtz tn ~on ni tit-» iw.- Presldonti; i‘remi<~r l't-Loi-.~; .\. l’. l‘|..-.t . tot iliurray iinvltor, it son ni tin- ln.-,

Senator Pruwsei; and ilinlnn of Summerside.

Branches of tin- il.\nl;_ flntintr |l.t~

presidency of l’t-1-.sitit-nt lit.t|t.-_ n. estttblisitcti til .-\lln-rlun. .\lt»||i‘t;;\t~-, Summers-ide and at Syiint-_y 4'. iz, 'lin-ir introduction in vault ui thi-tn tn\\|\~~ int- been met \\ ith ivnrm |»ui»iit» ttppit-\_\i .intl n ready patronage. 'i`n<~ :~`nnt t\ mat.. ll tt the pri-niirx' om-~ii;\\'i|\;; lint-n ~~.\ ti.».~l,--t i|\ l-ffl.

The haul; has al\\:\,\~, into \.»;.t\i.~.v with tht- tgtrurrnl pnl Ii. .-izni int . »\|\\._) . been well .sitppottrri ily |_n~|t;t-._ ,.1 i. ..\ all points \\ in-rv il. i~. ttnin; tin-im ».

its first oflivo \\n_~ nptrt-i nn \\.t:.»

Street in-ing iifu-i\\atti~ t‘t.t.t~\t.t t . i-

pi-t-act\tt|\\ttt'i\-ts :titer tin- tl.»~n._ tt: rin

Bank of P, E_ tl.ntttort~t-tnt-.- t-;.t\\.t.,i it-1, int- ,nt ...rm

vacant. iiere tin- in_~tirnti.-n i. <|.n...»i

' The Merchants flank of Prince Edward “thy ,ms ¢.,-,,v¢,,i.-,.ii,- |..»,...,.i_

` viii: t \.~|ttrt:_

1't~ot»n|.lyttn~.»n~t.t.-.»a| M - : - _ '. \ _ nvismi is our ni' tin- inn.. vit ittr tits.

roar-nt position stnrt- toil . =.n-| |. t~ i ti ;t-i t-ot\ti~ilnttt~ti in tin- silent-.-». tt|t1n~ l' tn-

previoua, anti its installation was tu many _

ti-nn_~n--tton.-.

an appreciated convenience, The first °"’“"'°"° “f °"° “““k “'“" "‘“` "‘“‘ "°"°"" itat-nn.; it nun. or .\tt-.tl.n-i.~.»t.'- ..n..i...,.-1 ,L0"iI“'0fi-ll. and Wm, 1\lei.can who is and experience to i-onti|nn- tin- in .-.t stlllailva was its first ca_~hh-r. When ment uftiieltvaiiofilt-c.

Mr. Longworths death took place the 'n“"““""‘”-" “L ‘l"` 'll"""""‘l "

oi the ilank are men who h.t\.- t nn.

'i‘he Ilnnk oi(Joi\t||ii~|'i-»- i~ im nw .-

‘ cd the confiidcnre of the p:it.t.|_~

Weeks, who for some years filled the \,m_n“u°n __ dc,4(,‘_,_i"L, mv, A position with probity :and unqualified oi’Heinla,iatnilIar with t|r:.ti:.-,.t,n t ,,p,,f,¢,,|,,,, go an who were b,-¢,,,g|,¢ qualified to give satisiat-tion. 't't..l t

bc no changes in the stan of ont i it

‘“w°°°°"°° wm'°h° °°“°°'"' as advisory tuntlinttti. tt it .

- - - .- -.-.»_- - t

Mr' wwkl K." ph” w Sir I’°“i” among thc niciitls-rs nt iii-~ ;,. . Dsvlcslwhose ocoupancb 01'-h°nf"lil¢\\t'= titreotomtt-_ anti it it ...nt ,t=_.-,» tn.- ofiiee continued until his removal to lthcrc will he no t-lntngc nh tt. .t t .-. 1 . Ottawatolive. policy which has govt-rn--tl tn .~ : nt .

mi rnnstnlnrs. i-tration of the tilt-rtltf.-.ts t'.t-_. t. t

Sir._I.ouis Davies was iollowetl by the ness.